Hindenburg Research published reports against Indian conglomerate The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied.

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down,

Hindenburg Research, a US-based financial research firm known for short-selling, announced on Wednesday that they are winding up after finishing the ideas already in the pipeline.

Nate Anderson, the US activist investor who made his name by publicly attacking companies including Afterpay-owner Block and billionaire tycoon Gautam Adani’s empire, is closing his New York short-selling firm Hindenburg Research.

Hindenburg Research’s founder said he would disband the firm whose reports sparked heavy selling by investors and investigations by authorities,

Activist short seller Nathan Anderson, famous for his campaigns against Adani Group, Super Micro and Nikola, is shutting down his firm Hindenburg Research seven years after he founded it. “The plan has been to wind up after we finished the pipeline of ideas we were working on,